The most useful way to introduce this story may be to explain that we did not set out to write about Los Angeles homelessness spending. We began with a broader analysis of Open Fi$Cal and related public-finance datasets showing large state and public-money flows into Los Angeles entities.
Initial Top 10 Money Flows into Los Angeles Entities
(July 2023 through March 2026)
At first glance, homelessness spending did not look like the dominant Los Angeles fiscal-flow story. LAHSA barely made the top 10. Our next step changed the picture.